Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1887-05-18
SIBERIAN ON SILVER

John Sherman viii be . candidate before
the next Republican National Convention
for nomination for the Presidency OF the
United States. As the silver question is q
very important one, and ~ it il known Mr..
Sherman held radical views concerning the
disposition OF that metal he was recently
questioned on the subject. In reply Mr..
Sherman said:
He was firmly ri the opinion expressed
by him in the Chamber OF Commerce in San
Francisco in May 1885. that the interest
OF silver producers, AZ well as of the people
OF the whole country, would be greatly ben.
Gifted by stopping the coinage of standard
silver dollars; that the vast volume OF these
coins IN the Treasury and the possibility of
their being at any time hrown upon the
market had a disturbing influence upon the
commercial value OF silver; he believed it
would he much wiser to place in the Treas
nry silver bullion purchased in the open
market and issue coin certificates based
upon it's market value and no more. This
would relieve bankers and others from the |
fear OF a single silver standard and would |
abolish the absurdity OF the Government
buying at one rate OF the miner, and coming
and issuing at a greatly inferior rate. Both
silver and gold are indispensably necessary
as standards OF money, ne said, but their
market value must be adjuste as neal as
may be from time to time, and whenever a
substantial divergence OF their relative
value is continued for a considerable time,
the change in ratio should be made by con
currence of the commercial nations. In
the United States. he averred. no large
amount of silver or gold will ever be in &C.
tive circulation, and the best representa-
ton of these metals are coin certificates
based upon the relative value of the two
metals. Sucb an adjustment would be &C
by Il simple act OF Congress
suspending the coinage OF standard dollars
and providing, as now. for the purchase Of
silver bullion and the issue OF coin certif-
Gates for it's cost"
Mr.. Sherman's language is very plain and
lnmistakable, but not at all satisfactory
20 the people OF the South and West. He
avors the stoppage Of the coinage OF the {
silver dollar and the ~issuance of !
bullion certificates instead based upon the .
market value of silver. What amount t
hall be purchased monthly or yearly. or
neither the Government shall take all that C
offered to it, he does not state.
The prime proposition in Mr.. Sherman's Il
has only to be considered a moment d
o show it's impracticability. He says v
hese coin certificates shall be biased upon c
he market value of silver and no more" 3
low the question occurs; what is the i
market value OF silver? 1t is just what it II
rings in the market from day to day. Ii
by gold. Under Mr.. Sherman's
the depositor Of a certain amount of l
liver a month or so ago would nave re- t
paper certificates based upon silver t
+ the market value OF 1.O2. To-day he d
-ould not get 95 cents for his silver. To- g
morrow he might get more or he might re- v
Give less. Then Mr.. Sherman's propo- o
ition is to add to our currency an element II
the first quality OF good money
of value. The silver certificates t
'ould be the greenbacks OF the old war Fl
avs, the discount upon them being regu- a
tied by the spectators in gold who would o
Don control that metal and force the IL
rice of silver down to a figure that would IL
every silver mine and mill in the a
Vest. Mr.. Sherman has not improved his d
respects for a nomination for the Presi- h
ency at the hands OF his party by the in
-